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PNC rolls out unique branch boosting program

1news3PNC Financial Services Group has rolled out a program that has boosted business at the bank’s branches when it was introduced as a test program. It has now introduced the program, which involves outbound sales calls, at 400 units of the bank. Customers are invited to come in for a face-to-face meeting. According to William Demchak, CEO about 25% who receive a call accept an appointment and of those, 75% end up buying products or services. It’s more than doubling the productivity of every branch inside of that program, he said. Although 45% of PNC’s retail customers handle the majority of their transactions without a teller, branch proximity remains the No 1 reason for selecting a bank. The bank closed 200 branches in 2013 but the emphasis today is ‘more about converting’ the traditional branch to its universal concept or opening new ones. It chiefly involves changing the role of the teller to full-service employee, dropping the square footage and removing the teller lines and integrating PNC’s digital offering with the physical space. Conversion costs range from $50,000 to $150,000 per branch, Demchak said, and typically, the universal branch requires one less employee than a traditional one.

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